Visa - V STOCK NEWS

Uber (NYSE: UBER) and Visa (NYSE: V) launched the Grants for Growth program, allocating $1 million to support small businesses impacted by the pandemic across 10 U.S. cities. Each of the 100 selected merchants will receive $10,000 for immediate needs such as payroll and technology upgrades. Eligible businesses must have been active on Uber Eats since January 1, 2022, in cities including Atlanta, Chicago, and Los Angeles. The program, administered by LISC, aims to promote restaurant recovery and entrepreneur support.

Visa (NYSE: V) has announced its role as the first Women's Football Partner for the FIFA Women's World Cup 2023, expanding its commitment to women's football and promoting equality in the sport. This sponsorship follows their success in the 2019 tournament, which attracted 1.12 billion viewers. Visa's investment includes innovative payment technology at venues and exclusive fan experiences. The initiative aligns with their broader strategy to support women in sports and business through programs like Team Visa and She’s Next.

Visa (NYSE: V) has successfully completed the acquisition of Currencycloud, enhancing its capabilities in foreign exchange solutions for cross-border payments. This acquisition, building on their strategic partnership, allows Visa and Currencycloud to offer improved transparency and control to clients. Currencycloud supports over 500 banking clients and has processed more than $100 billion in transactions globally since 2012. The integration is expected to bolster Visa's growth in digital payments.

According to a Visa survey, 23% of U.S. adults have sent money abroad, with 65% planning to do so again for the upcoming holiday season. Digital remittances are increasingly favored, with 59% of users opting for online platforms. The survey highlights the growing trend of digital payments, simplifying the remittance process for 800 million global recipients. Visa Direct connects 5 billion accounts worldwide, enhancing financial inclusion. Additionally, 51% of remittance users plan to send money within the next month, driven by the need to support families during holidays and emergencies.

Visa (NYSE: V) reported an increase in the U.S. Spending Momentum Index (SMI) to 111.9 in November, a rise of 1.3 points from October. This signals a positive trend in consumer spending for the second consecutive month. The SMI indicates that more consumers are spending compared to the previous year. Notably, discretionary purchases improved, while non-discretionary purchases saw a decline. Regionally, the Midwest reported the highest SMI at 112.5. Visa's Chief Economist, Wayne Best, suggests that consumers are currently resilient despite inflationary pressures.

Visa has launched its Global Crypto Advisory Practice within Visa Consulting & Analytics to support clients in adopting cryptocurrency strategies. A recent study indicates 94% of financial decision-makers are aware of crypto, with nearly one-third of global respondents engaging with it. Notably, 40% of crypto owners are likely to switch to banks offering crypto products within the next year. The data, collected from over 6,000 decision-makers, suggests a growing consumer interest in crypto-linked financial services.

Visa has launched its Global Crypto Advisory Practice to assist clients in navigating the evolving crypto landscape. This initiative aligns with recent research indicating that 94% of financial decision-makers are aware of cryptocurrency, with nearly 40% of crypto owners open to switching banks for crypto-related products. Visa's consultations leverage its experience with over 60 crypto platforms to develop tailored strategies, targeting financial institutions and retailers interested in digital currencies and NFTs.

Visa Inc. (NYSE: V) will participate in the UBS 2021 Global TMT Virtual Conference on December 8. Vice Chair and CFO Vasant Prabhu will present at 4:00 PM ET, with the session lasting around 45 minutes. Investors can access a listen-only audio webcast and replay on Visa's Investor Relations website for 30 days following the event. As a leader in digital payments, Visa facilitates secure transactions globally through its advanced payment network, VisaNet, capable of processing over 65,000 messages per second.

Visa has partnered with The Salvation Army and tiptap to enable contactless donations at nearly 2,000 Red Kettle locations across the U.S.. This initiative allows users to donate by tapping their contactless cards, phones, or watches. With contactless payments doubling in the past year, this pilot aims to make donating easier during the holiday season. The Salvation Army anticipates needing $175 million in donations this year, significantly higher than last year's $120 million.